Revenue rose to $5.60 billion in the quarter ended 24 June from $5.37 billion a year earlier. Net income attributable to Qualcomm rose to $1.22 billion or 82 cents per share, from $866 million, or 58 cents per share a year earlier.

Samsung recently took the crown for having the maximum market share of 29 percent in Q2 of 2018, while the Apple had a mere one percent market share. Xiaomi on the other hand which reportedly contributed to Qualcomm's revenue growth had a close 28 percent market share.

According to a CNETreport, the San Diego-based chipset maker recently announced during its earnings calls with analysts that it would sever ties with Apple and will not supply modems to upcoming iPhones. It is speculated that Intel will be the supplier to Apple's upcoming iPhone models.

With inputs from Reuters

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